Chinese carmakers gain ground as Europe accelerates shift to EVs
Chinese carmakers are gaining ground in Europe’s move towards electric vehicles, particularly in plug-in hybrids, even as Brussels seeks to limit their expansion. The shift has accelerated alongside high petrol prices, while battery-electric registrations rose 62.7% year on year in August, according to the South China Morning Post.
Chinese carmakers have emerged as major beneficiaries of Europe’s shift towards electric vehicles, particularly in the plug-in hybrid market, according to the South China Morning Post. Their progress comes as European authorities in Brussels pursue measures intended to curb the expansion of Chinese manufacturers. Despite those efforts, the report says Chinese brands have gained ground in the market.
High petrol prices have helped accelerate interest in battery-powered vehicles. In Germany, petrol prices rose above €2.30 a litre this month, described in the report as a record high. The figure is equivalent to US$9.91 a US gallon.
Battery-electric vehicle registrations increased by 62.7 per cent year on year in August. They represented 21.7 per cent of new vehicle registrations during the first eight months of the year, although the supplied extract ends before providing further figures. The material does not identify the Chinese marques involved, give total registration numbers or detail the specific European measures aimed at limiting their growth.
It does indicate that rising fuel costs and stronger demand for electric vehicles are reshaping competition in the region’s car market.
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.